From what I've read in the HK newspapers, an online betting place has already started taking bets.
Surprisingly, Zhang Ziyi is not a favorite with 11:1 odds, nor is Tony Leung with 11:1 odds
The favorites are Yuen Qiu with 1.6:1 for best actress () and Jackie Chan with 1.75:1 followed by Stephen Chow with 2.5:1